UniBank Car Loan Review

Purchase a range of vehicles and benefit from flexible repayments with this loan from UniBank.

The UniBank Car Loan offers a variable rate and no ongoing fees to help you purchase a car, motorbike, caravan or classic car. The loan offers flexible repayments and has the option to make additional repayments, with no penalty for early repayment. You can also benefit from unique features such as being able to add additional vehicle costs, like car insurance, to the loan.

This review will take you through everything you need to know about the loan to help you make a decision on whether it's right for you.

Main points to consider with the UniBank Car Loan

This car loan allows you to purchase a new or used car, towable caravan, boat, motorcycle or classic car. You can apply for between $2,000 and $50,000 which you're able to spend on the cost of the vehicle as well as on-road costs such as navigation systems or car insurance.

The loan comes with a variable rate of 9.95% p.a. The application fee will be waived if you apply by 30 March 2019, and are approved by 20 April 2019. You will pay no ongoing account-keeping fees with this loan and you can make extra repayments or repay the loan early without penalty.

Features of the UniBank Car Loan

There are many features included in this personal loan, such as:

  • No ongoing fees. There are no ongoing monthly or annual fees charged with this loan.
  • Suitable to buy a range of vehicles. You are able to use the loan funds to buy a new or used car, a classic car, a motorbike or a towable caravan.
  • Flexible repayments. You can make extra repayments at any time and redraw those should you need them. You are also able to pay off the loan early without penalty.
  • Borrow extra for on-road costs. Many loans only let you borrow the cost of the vehicle, but UniBank will let you apply for additional funds for car purchases such as navigation systems, car insurance or car alarms.
  • Loan amount. You can apply for between $2,000 and $50,000.
  • Loan term. Select loan terms of between 1 to 6 years.
  • Variable rate. This loan comes with a competitive variable rate starting from 9.95% p.a. up to 10.64% p.a.

Fees and charges

Some of the fees you can expect with this loan include:

  • Application fee waived. The $100 application fee will be waived if you apply by 30 March 2019, and are approved by 20 April 2019.
  • A late payment fee of $10.

Apart from the fees above, there are no ongoing or monthly fees associated with this loan.

How to apply for the UniBank Car Loan

Applying for the UniBank Car Loan is easy. Simply click on “Go to Site” and ensure you meet the following requirements:

  • Be an Australian citizen or permanent resident
  • Be over the age of 18
  • Have adequate identification. Two forms of ID are needed and can include your driver’s licence, Medicare card, passport or birth certificate.
  • You must be a member of UniBank and become a shareholder within the company. This can be done online and costs $10.
  • You must show your assets and liabilities situation to show you have the ability to pay off this loan
  • You must also agree to a credit check, as your credit score has an impact on your eligibility for the loan.

While you benefit from no penalties for early repayments, it’s important to consider whether this personal car loan meets your individual needs. Compare other loans before making a decision.

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Important Information*
IMB New Car Loan

You'll receive a fixed rate of 5.89% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one up to two years old.

Latitude New and Used Car Loan

You'll receive a fixed rate between 6.99% p.a. and 14.99% p.a. based on your risk profile
Apply for a loan from $5,000 to finance a new or used car. Flexible repayments and options to finance a classic car.

Beyond Bank Low Rate Car Loan "Special Offer"

You'll receive a fixed rate of 5.69% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

Loans.com.au - New Car Loan

You'll receive a fixed rate of 5.44% p.a.
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment.

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